By Laura Lutz
Des Moines, Feb. 13 - Magnum Uranium Corp. arranged a private placement of units for up to C$3 million.
The company plans to sell up to 2,857,143 units of one share and one half-share transferable warrant at C$1.05 per unit. Each whole warrant will be exercisable for two years, at C$1.35 in the first year and at C$1.60 in the second year.
Proceeds of the non-brokered deal will be used for exploration on the company's U.S. properties and for working capital.
Magnum is a Vancouver, B.C.-based mineral exploration company focused mostly on uranium.
| Issuer: | Magnum Uranium Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 2,857,143
|
| Price: | C$1.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.35 in the first year; C$1.60 in the second year
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 13
|
| Stock symbol: | TSX Venture: MM
|
| Stock price: | C$1.24 at close Feb. 13
|
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